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HK warehouse vacancy remain stable at 3.4% in Q1
The drop in exports contributed to the performance of the market.
Warehouse vacancy in Hong Kong was unchanged at 3.4% in the first quarter of the year, data from Colliers' Hong Kong Property Market Overview Report showed.
Colliers said the 25% YoY drop in exports in the first two months of 2023 contributed to the performance of the industrial property market.
The low warehouse vacancy continued to favour landlords with renewal rents more skewed towards their asking rent.
READ MORE: HK rateable values grow 0.4% to $2.66b YoY
Meanwhile, warehouse rents decreased by 0.5% to $14.7 per square foot, whilst general industrial rents increased by 0.5% to $14.5 per square foot.
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